The Latest Liquidations: December 8, 2022
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC Liquidations: Sierra Lake, Z-Work, Lerer Hippeau, and Climate Real Impact Solutions II
Sierra Lake Acquisition Corp. Shareholders Approve Liquidation
Sierra Lake Acquisition Corp. (NASDAQ: SIER) announced today that due to its inability to consummate an initial business combination, it will dissolve and liquidate, effective as of the close of business on December 8, 2022, and will redeem all of the outstanding shares of Class A common stock at a per-share redemption price of approximately $10.12.
READZ-Work Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Z-Work (NASDAQ:ZWRK) held on December 8, 2022, stockholders approved an amendment to allow the company to redeem all of its outstanding shares of Class A common stock today instead of its contractual expiration date of February 2, 2023.
Z-Work expects to complete the mandatory redemption on or around December 9, 2022 at a per share redemption price of approximately $10.076.
READLerer Hippeau Acquisition Corp. Shareholders Approve Liquidation
On December 7, 2022, the stockholders of Lerer Hippeau Acquisition Corp. (NASDAQ:LHAA) to allow LHAA to unwind and redeem all of its outstanding public shares prior to December 30, 2022.
Following the amendment, the Board of Directors of the Company set December 14, 2022 as the amended termination date.
Holders of 22,147,102 public shares of Class A common stock exercised their right to redeem their shares for cash at a redemption price of approximately $10.09 per share, for an aggregate redemption amount of approximately $223,496,059.56. Following such redemptions, 119,083 public shares of Class A Common Stock remain outstanding.
READClimate Real Impact Solutions II Acquisition Corp. Shareholders Approve Liquidation
At the special meeting of stockholders of Climate Real Impact Solutions II Acquisition Corporation (NYSE:CLIM) held on December 8, 2022, stockholders approved an amendment to allow CLIM to redeem all of its outstanding shares of Class A common stock on December 8, 2022 instead of its original date of January 29, 2023.
The company expects to complete the mandatory redemption on or around December 9, 2022 at a per-share redemption price of approximately $10.04.
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